Arsenal Sign Lukas Podolski From Cologne

Arsenal have announced they have reached an agreement with German Bundesliga outfit FC Cologne to buy their star striker Lukas Podolski for a fee believed to be £10.9 million.

As the transfer window has now been closed Podolski will see out the rest of the season with Cologne before joining up with his new team-mates in the summer for preseason training.

Stale Olbakken, the Cologne boss, revelaed last month that he was resigned to losing Podolski to either Arsenal or Liverpool and now his worst fears have been realised as he will have to start making plans on how to replace the striker who has scored 77 goals in just 160 league appearances for the club.

Podolski started his career at Cologne before making a big money transfer, thought to be €10 million, to Bayern Munich. The Polish-born striker then returned to his original club, again for a rumoured €10 million. During his first season back he only managed three goals all season but rediscovered his scoring boots the following campaign.

The 26-year old qualified to play for Poland but opted to represent German at international level and has so far made 91 appearances and scored 43 goals.

Arsenal have often been criticised for not splashing out in the transfer market with manager Arsene Wenger seemingly keen to use players developed by his youth system but this signing should please their fans. Although Robin van Persie is in the form of his life this season after hitting more than 30 goals, the Gunners lack quality in depth in the forward line but the Podolski signing changes all of that.

Podolski will still need to pass a medical and agree personal terms, thought to be around £100,000 per week, before the transfer is official but signing for Arsenal is thought to be a formality.

Arsenal are next in action against Newcastle United on Monday night, a game that bookmakers think they should win easily. The best price we can find on an Arsenal win right now is 1.50 with a Newcastle win priced at 8.00 and the draw at 4.60.